Loan to buy rice cooker to sell

Richard Aduonu

Gomoa Pomadze, Ghana

100% repaid



Richard Aduonu


Gomoa Pomadze, Ghana

On-time repayments

11 weekly installments  •  64%

About Me

My name is Richard Aduonu, I come from Agona Abodom. I attended basis school at Assin Amoabin DC primary school and completed on the year 2006. afterward i furthur my education to senior high school and completed on the year 2009. When i completed i decided to start doing business small because i had no support to go to senior high school, so i started selling radios, torchlight, batteries, polish and many more. Through that i was able to raise shop from it and has been making money from it through saving some portion of the profit. Moreover where i stay there is a festival called Gomoa two weeks. This is normally celebrated two weeks after christmas, during that period many people from different places come there to watch and entertain themself. I will like to make some of my children to do business , some doctors,lawyers etc. I will like to end here with my letter.

My Business

I will like to discribe the business i do and how i will repay the loan. First of all i sell things like radios, standing fans, cylinder irons, extension boards and many more. so i will use the income i get or the profit to pay back the loan. The goods are sell are useful because it is something everybody need especially the students and the lecturers. My capital is about twelve thousand Ghana cedis. I use some part of the profit to invest in the business and feed on some and also use some to pay my house rent and my bills as well. I will like to end here with my letter and i hope my loan will be granted quickly. THANK YOU.

Loan Proposal

My name is Richard Aduonu. I am a business man I sell electrical appliances. When I get the loan I will use it to buy Rice cooker and sell at my shop. Rice cooker is one of the product they buy more so I want to buy more and sell at the shop which will be me get more profit to pay back the loan quickly and also I will get more money to help the needs of my family. Thank you

Income Source

Currently may countries are facing challenges because of the coronavirus but we are still making life so it is not a barrier to me in life. I will always make savings to repay the loan. Thank you





Loan Info

Project Type

Classic Loan

Disbursed amount


Date disbursed

May 25, 2021

Repayment status

On Time

Projected term

2 weeks

Cost to entrepreneur

Service fee: 5% of $50.18 = $2.33

Credit risk payment: $11.82


Adam Fraser

Cambridge, United Kingdom





JOY to the world

Cottonwood Heights, United States

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